The Life Insurance Coverage Need Gap and American Consumers
June 6, 20238:20 am
< a min read
June 12, 2023 onForYourBenefit, host Bob Leins, CPA® welcomes Tony Zerante, Chief Strategy Officer, and Stephanie Baker, Chief Experience Officer, WAEPA. Across the country, there is still a significant need for life insurance, both from consumers who don’t own any and from those who have some but need more.
The Insurance Barometer Study, published annually by LIMRA, works to identify this need. Blending estimated U.S. adult population data with the survey results suggests the total life insurance need gap now encompasses 101 million adults.
Today’s guests will talk about the insurance need gap. What exactly is it? Why is it important for the insurance industry, and consumers, to consider?